Tri Township Water Corporation

Nonprofit profile at a glance

EIN
351124966
IRS 990 coverage
2016–2025
Forms available
Form 990 2025
Location
Lawrenceburg, IN, USA
Phone
8126371039
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$553,989
Expenses
$458,548
Assets
$14,187,959
Liabilities
$5,607,554

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • DAN CORMICAN (President)
  • ALLEN GOODMAN (Vice President)

Highest reported compensation

  • DALE LUTZ (Secretary): $1,275 total reported compensation
  • DAN CORMICAN (President): $1,200 total reported compensation
  • CASEY KNIGGA (Treasurer): $1,175 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To serve potable water to area customers.

What it reported doing in 2025

Tri-Township Water Corporation is a not for profit 501 (c) (12) tax exempt rural water utility. The only purpose of the Corporation is to serve potable water to area customers.

Operating model

Revenue model
Investment-supported. 73% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Liabilities are high compared with assets and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 64.5%; rating input score 64
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 17.2%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 30.94; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.4; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 1.9%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 9.5% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 64.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $296K in reported program spending
  • Leadership: top reported pay $1K · 9 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 10 filing years from 2016 to 2025
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • Review — Sustainability: Officer compensation ratio scored 55/100.